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I-3 - Taxation Act

Section 1110
Disposition versions

Full text
1110. A mortgage investment corporation may also deduct in computing its income, subject to the second paragraph, 1/2 of the capital gains dividends which it pays during the period beginning 91 days after the commencement of the year and ending 90 days after the end of such year.
However, where the year includes 28 February 2000 or 17 October 2000, or begins after 28 February 2000 and ends before 17 October 2000, the reference to the fraction “1/2” in the first paragraph shall be read as a reference to the fraction in paragraphs a to d of section 231.0.1 that applies to the corporation for the year.
1974, c. 18, s. 41; 1990, c. 59, s. 358; 1996, c. 39, s. 273; 1997, c. 3, s. 71; 2003, c. 2, s. 290.
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